Rent to Own Homes in Mobile

The Port of Mobile was once a busy point of trade for Frenchmen and Native Americans, but the clientele has changed considerably over the years. The city of Mobile is located in southwestern Alabama on the shores of Mobile Bay, and the port remains an integral part of the city’s financial stability. Many residents depend on the port for jobs, and automobile companies moving into the area depend on it for shipments.

The Port of Mobile was once a busy point of trade for Frenchmen and Native Americans, but the clientele has changed considerably over the years. The city of Mobile is located in southwestern Alabama on the shores of Mobile Bay, and the port remains an integral part of the city’s financial stability. Many residents depend on the port for jobs, and automobile companies moving into the area depend on it for shipments.

Mobile is the seat of Mobile County as well as one of the wettest cities in the United States. The Dog River branches off from the Gulf of Mexico and extends into the southwestern corner of the city, and the Mobile River branches off into the northeastern section of the city. The Spanish River trails along the eastern edge, and the northernmost region is home to Bayou Sara and Big Bayou Canot.

The University of South Alabama has a campus right on the bay next to the Mobile Downtown Airport. Another campus is located in the northwestern corner of the city near the Mobile Regional Airport. Other attractions in the city include Mobile City Hospital, Ladd-Peebles Stadium, Bel Air Mall and the Gulf Coast Exploreum Science Center. The city is also home to some interesting historical landmarks, including the USS Alabama battleship and the reconstructed Fort Conde.

Buying a Home in Mobile

Hurricane Katrina put the fear of disaster in many homeowners living near the Gulf Coast, but Mobile wasn’t as badly impacted as New Orleans. This resulted in many people moving from New Orleans to Mobile, consuming some jobs and increasing the local population.

Today, the upheaval from that storm has settled, but there is still a lot of caution for home buyers moving into the city. This area does receive a lot of rain in the summer months, and there is always the risk of a hurricane blowing through town. This stresses the importance of making sure your homeowner’s insurance fully covers your property in case of a hurricane and paying close attention to the news during hurricane season.

Popular Neighborhoods in Mobile

Bayside is one of the most popular neighborhoods in Mobile because it’s located right on Mobile Bay. The median home value is close to $100,000, but that’s a bit deceptive. You can find homes in that price range in the western half of the community, but prices move toward $300,000 as you get closer to the water. An estate-sized property directly on the bay will cost about $400,000, but there are properties close to the water that sell for a bit less.

Second Creek is a popular Mobile neighborhood for families with children. The homes are located near a park and nine schools. There are also many restaurants and shopping centers convenient to the community. The median home value is about $240,000, but there are often homes on the market for substantially less. There are also many homes in the $500,000 range in some areas of the neighborhood.

Buying vs. Rent to Own Homes

There are many affordable homes in various Mobile neighborhoods, but how do you know that you’re financially ready to make such a substantial purchase? If you aren’t confident that right now is your time to buy, consider a rent-to-own home. These homes allow you to start out renting the property with the option to purchase in the long run. The exact terms vary depending on the current owner of the property, but these agreements offer a slower path to home ownership. You can rent while you’re boosting your credit rating or your savings account, and then you can buy when you feel more comfortable with the decision.

Cost of Living in Mobile

The cost of housing in Mobile is approximately 25 percent lower than the national average, and some sources place it closer to 50 percent lower. This may depend on what neighborhood you select and how close your new home is to the water. Prices for groceries and utilities are about even with the national average, and you can expect to pay a little less than average prices for goods and services. When you put that together, the cost of living in Mobile is about 10 percent lower than the national average. If you purchase one of the more affordable homes, you can live comfortably in this city without earning a large salary.

Summary

Mobile sits on the coast Mobile Bay and is a major port city serving the United States. While shipping is a major industry here, jobs are also available in the automotive industry. There are some large industrial areas throughout the city where jobs are plentiful. This is a city with a moderate cost of living, and you can live comfortably on modest wages if you select one of the more affordable homes. If you prefer to live on the water, there are some large properties on the bay with spectacular water views. The cost of housing is substantially lower than the national average, so you can buy those large homes at impressive prices.

Rent To Own Labs provides a diverse set of real estate listings, including rent to own (“lease to own” or “lease purchase”), owner financing, foreclosed, for sale by owner, and rental home opportunities. These listings are available to low-income residents and those with bad credit or no credit, and include both condos & houses. Rent to own homes near me include the list of zip codes we serve in this area:

About Rent To Own Labs

Our goal is to help you find the ideal rent to own home. To do that, we’ve had to experiment with a lot of crazy things to make that happen (thus our name!). We’re consistently trying new things, working with new partners, and overall, trying to make your search experience as seamless as possible. At the end of the day, we know how important it is to find the perfect home, and we’re excited to help you find it, and to help you through the entire process.